The number of unemployed in March decreased by 6.2% compared to 2022

The number of unemployed registered in employment centers in March decreased by 3.0% compared to February to 306,157 people, which is the lowest figure for this month in the last 30 years, and 6.2% lower than in March 2022 year, the government said on Thursday.

According to a statement from the Ministry of Labour, Solidarity and Social Protection, “Unemployment registered in March (306,157 people) was the lowest value this month in the last 30 years, with a decrease of -3.0% (-9,488 people). people) compared to the previous month, and -6.2% below the level observed in March 2022 (-20,094 people).”

The Executive Director also notes that “the number of unemployed young people registered with the IEFP [Instituto do Emprego e Formação Profissional] was the lowest ever (34,232 people) in March, recording a decrease of -1.8% (-622 people) compared to the same month.”

In chain terms, compared with February, youth unemployment decreased by 1.2% (-416 young men).

In terms of long-term unemployment, there was a chain decline of 2.8% (-3,346 people) and a year-on-year fall of 26.7% (-42,831 people), affecting 117,527 people.

Between February and March, registered unemployment declined consistently in all regions, with an emphasis on a 22.9% decline in the Algarve region. On an annualized basis, there was a decrease in the north, in Lisbon and the Algarve, with a focus on a 14.3% decrease in the Algarve region.

At the sectoral level, the ministry reports a chain decline in all sectors of economic activity: agriculture (-2.8%), secondary (-2.2%) and tertiary (-3.7%).

On an annualized basis, there was an increase in the agricultural sector (+1.9%) and a decrease in the secondary (-4.1%) and tertiary sectors (-5.3%).